Bitcoin has bounced back to around $82,000 after briefly dropping below the crucial $80,000 support level, snapping three consecutive days of losses. The rebound came as fears eased that the Federal Reserve could raise interest rates again following hotter U.S. inflation data. Several Fed officials signaled no urgency to tighten policy immediately, helping push the U.S. 10-year Treasury yield toward 5.08% and weakening the dollar, which created a more favorable backdrop for risk assets such as Bitcoin.
On-chain data from Santiment showed a potentially bullish signal: the number of wallets holding between 10 and 10,000 BTC reached a record 20,338 on October 15. That count has been increasing since around mid-July despite significant Bitcoin volatility. Santiment views this cohort as an important stakeholder group, and continued growth during price weakness may indicate that larger participants are not abandoning Bitcoin. However, wallet counts do not equal individual investors, and a rising number of addresses alone does not prove net accumulation.
The recovery is not yet confirmed. U.S. spot Bitcoin ETFs recorded $261.4 million in net outflows on the day of the CPI report, with preliminary data showing modest outflows the following session. The immediate challenge is the $83,500-$84,000 area. If BTC can reclaim and hold above $84,000, the next recovery zone is around $85,000-$87,000. A stronger move toward $87,000 would bring Bitcoin back to the area where selling accelerated earlier this week. On the downside, losing $80,000 could open the path toward the $78,000 area.
